Question: Exercise 10-11. Asset purchased with a note LO2, 3 Snowbot Snow Removal Company of Halifax purchased some snowplow equipment on March 10,3m3, that had a
Exercise 10-11. Asset purchased with a note LO2, 3 Snowbot Snow Removal Company of Halifax purchased some snowplow equipment on March 10,3m3, that had a cost of $150,000 (ignore GST/PST). Show the journal entries that would tecord this purchase and pays: The company paid cash for the full purcha b. The company purchased the price. c. The company signed a 12%, one-year note for the fuil purchase price. The note was paid on March 10 , 2021, the maturity date. Ignore year-end accruals. Motes payable L e3
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